UPDATE: Jefferies Raises PT on Tibco Software Following 2Q Revenue

In a report published Friday, Jefferies analyst Aaron Schwartz reiterated a Buy rating on Tibco Software TIBX, and raised the price target from $25.00 to $26.00.

In the report, Jefferies noted, “TIBX's 2Q revenue was essentially in-line with what were perceived as conservative estimates. But given the continued weak large deal environment, and the ongoing overhaul of the sales org, the results were okay and likely decent enough to support the stock. We believe current levels are an attractive entry point but the lacking evidence of a turn in the business or identifiable catalyst may keep the stock range bound in the near term.”

Tibco Software closed on Thursday at $21.01.